Economics

Petrol and diesel are set to become cheaper than bottled water after a collapse in the value of oil, experts have predicted. The RAC said that fuel prices may drop as low as 86p a litre — the lowest for at least seven years — after a dramatic …

Plummeting oil prices may challenge the established geopolitical status-quo and even result in war and turmoil, experts warn. Will the petroleum-centric world of the past half-century be restored again soon? The current slump in oil prices has affected giant oil corporations and the ancillary businesses; it also threatens to undermine …

By Jason Ditz Iran was initially not expected to implement everything until spring, and early on US officials were expressing annoyance that Iran was complying “too fast.” It’s been coming for awhile, but according to Secretary of State John Kerry, Iran is just “days” away from a final …

A lot of people were expecting some really big things to happen in 2015, and most of them did not happen. But what did happen?  It is my contention that a global financial crisis began during the second half of 2015, and it threatens to greatly accelerate as …

While the mainstream media focus on ISIS extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the US.  Poverty also kills.  At …

Nikolay Pakhomov The current outbreak of animosity between Russia and Turkey has had many consequences. One consequence, in the economic sphere, has repercussions far exceeding bilateral ties: a project to deliver Russian natural gas—first to Turkey and then to Europe—has been put on hold. This project, known as …

Merve Sebnem Oruc On 2 August, 1990, Iraqi forces blew into Kuwait. The main reason for the Iraqi invasion of Kuwait was economic; Iraq couldn’t pay its huge debts after eight years of war with Iran. Saddam Hussein accused Kuwait of overproduction of oil from the two countries’ …

Low oil prices are eating into defense spending in the Gulf region, one of the world’s largest arms markets, with budgets trimmed for the first time in a decade this year and deeper cuts expected in 2016, according to a report published on Thursday. Overall spending fell to …